Field inspection companies play a crucial role in the financial industry by providing top-notch inspection services for banks, insurance agencies, and mortgage lenders. Choosing the right mortgage field inspection company is critical to risk management and can be a daunting task if you don’t know what to look for in a valued partner.
We’ve put together a useful list of things to consider when choosing a field services vendor, based on the type of services you’re looking for. As an industry leader with over three decades of experience and a nationwide presence spanning all 50 states and US Territories, NFR is a highly trusted field inspection company with stack rankings amongst the highest for some of the Nation’s largest mortgage servicers. Our professional inspectors specialize in property condition assessments and various inspection services, including occupancy, insurable loss, disaster, compliance, REO foreclosure, evictions, and more. Whether you’re currently working with another company or in search of a new service provider, keep these ideas in mind – not all field inspection companies are created equal.
Field Inspection Companies Should Provide:
Thorough Occupancy Inspections
A valued occupancy inspection partner will have a team of experts who will conduct thorough inspections and provide you with the appropriate images and documentation to support their claims.
Detailed Property Condition Inspections
When a field inspection company performs property inspections, they should provide a detailed description of your property’s condition. Their inspectors should have the knowledge and expertise needed to conduct comprehensive inspections which will assist you in making informed decisions for the disposition path of your real estate assets.
Expert Disaster Inspections
Natural disasters such as hurricanes, floods, fires, and tornadoes can cause significant damage to a property. That’s why the best field inspection companies offer disaster inspection services. Their experts should provide in-depth reports about the damage to your property, which can be used for repair, insurance purposes, or for the servicer to apply for disaster relief from FEMA. Internal reporting to the client should also indicate if the client’s assets reside in a county with a declared disaster.
Professional REO Check Inspections
REO inspectors should assess the interior and exterior condition of a property per your instructions, assessing damages, code violations, and checking for hazards. The company should have the ability to secure, track and report on all required maintenance services per your request.
Timely Sale Date Inspections
Sale date inspections are time-sensitive with deadlines for service attached. Field inspection companies that specialize in conducting these types of inspections with great accuracy and efficiency will schedule the inspection in a timely manner and analyze the condition of a property before foreclosure or property transfer.
Transparent Due Diligence Inspections
Professional field inspection companies will provide due diligence inspections that provide buyer’s an assessment of the seller’s pre-sale disclosure. This type of inspection allows a buyer to understand the condition of the property and identify areas of concern before closing or property transfer and experienced providers will report trusted and detailed reports.
Reliable Insurance Loss Inspections
If you need to identify remaining repairs resulting from an insurance claim or verify that completed repairs have been performed successfully following an insurance loss, you need experts who understand how important accurate claims are in securing needed repairs for your property.
Your field service inspection partner should conduct an in-depth inspection of a property’s condition and document the findings with photography and images. The proper inspection photography methods provide a clear visual record of the property’s condition.
Property Condition Report
Property condition reports, also known as property condition assessments, provide an evaluation of a property and its capital expenses. Conducting a property condition inspection and receiving a detailed report is essential to managing and protecting your real estate assets.
At NFR, we take pride in offering our clients reliable and timely field inspection services so they can accurately estimate the condition and value of their property. Customer satisfaction is our #1 priority. Our team of inspectors uses cutting-edge, real-time, field inspection software to efficiently schedule, track, and report client orders with precision. As seasoned experts in the field, we are committed to delivering exceptional results and providing our clients with peace of mind, and work diligently to lead the industry and maintain exemplary standards.